Silver is dropping right in front of my eyes

Discussion in 'Silver' started by Investing for kids, Jul 28, 2020.

  1. Investing for kids

    Investing for kids Active Member

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    As I’m writing this silver has just pulled back from $34.5 and ounce to under $32.
    Thoughts?
    Just a pullback?
    Going down?
    About to shoot up?
    Share your thoughts here
     
    shinymetal likes this.
  2. SilverDJ

    SilverDJ Well-Known Member

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    11% drop in a day. When was the last time that happened?

    upload_2020-7-28_17-48-55.png
     
    adze67, jultorsk and 66rounds like this.
  3. Michael Stevens

    Michael Stevens Well-Known Member Silver Stacker

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    Welcome to the world of silver :D
     
  4. Investing for kids

    Investing for kids Active Member

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    It’s crazy. Started around 24, up to 26, down to 22, back at 23.50 now. Just bought a few ounces under $40 each that when they first went onto the website merely 15 minutes before were 42
     
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  5. WSF

    WSF Active Member Silver Stacker

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    Was always going to happen.
    I see myself buying Unallocated at AUD $25 oz spot by this time next week.
     
  6. Investing for kids

    Investing for kids Active Member

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    Really! I'm seeing a pullback to $30 and then we're going up :)
     
  7. WSF

    WSF Active Member Silver Stacker

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    Y
    Could be more likely.. but its 2020. Who knows what will happen next.
     
  8. ozcopper

    ozcopper Administrator Staff Member

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    This is the recession pullback we had to have :D
     
  9. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Damn, was thinking of selling my SLV last night.
     
  10. Investing for kids

    Investing for kids Active Member

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    Really? I think we have some potential in this run. Eh, I may be wrong, but its been so uncertain atm and no one really has any idea, when silver goes up by like 10% in one day and then drops by over 10% in the same day and then comes back up by around another 5%
     
  11. 66rounds

    66rounds Well-Known Member Silver Stacker

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    Welcome aboard the silver train bud. You get less car sick with gold!
     
  12. shinymetal

    shinymetal Well-Known Member

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    Absolutely insane volatility!!
    This is just the start of what is going to be a crazy roller-coaster!
    Please stow your tray tables away, and put your seats in the upright position.
     
    Shlomo Goldberg, screwedon and OneDay like this.
  13. Oddjob

    Oddjob Well-Known Member Silver Stacker

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  14. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Market woke up and realised silver was way overvalued. ;)
     
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  15. kezza26

    kezza26 Active Member

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    Dont forget your seatbelts and NO smoking in the lavatory
     
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  16. Ag bullet

    Ag bullet Well-Known Member

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    checked the ainslie website at lunchtime. 1oz gold bar was AU$2800.03
    right now it was AU$2757.95
     
  17. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    Given silver is up circa 30% since 30 June 2020 and gold is up about the same since March 2020, I'm not getting too bent out of shape over some re-tracement in price right now. At USD1930 and USD23.80 odd at present....I'm still a happy stacker.
     
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  18. Yankee101

    Yankee101 Member

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    Well so far there have been two huge dumps in total of silver contracts - around 9:30pm and then at 3:30am

    One dump was around 14,000 contracts in total and the other at 3:30am was even bigger at over 16,000 contracts.

    IIRC these contracts are for 5000 ounces each so someone, from somewhere dumped a total of 150,000,000 ounces in a falling market. Then add in the other contracts dumped just before and after these huge dumps as well.

    All done to take out the stops, kill the rally, and manipulate the price. No rational person or trader would trade like this ever unless the aim was price manipulation.

    So the only question is who has the ability to do such manipulation?

    And of course nothing will ever be done to the ones undertaking such manipulation.

    If you or I tried something like that we'd end up in the klink.
     
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  19. OneDay

    OneDay Active Member Silver Stacker

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    Sit tight and get some pop corn buddy. We live in interesting times.
     
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  20. Lucky

    Lucky Active Member

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    It’s 2011 all over again
    Enjoy the ride
     

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